Other Economics Answers

Demand forecasting is an important tool for predicting the demand for an organization’s products or services in a specified time period in the future” Enumerate any three needs for demand forecasting and discuss the steps involved in demand forecasting.

(

Suppose HTC sells 8,000 smartphones in Taiwan per week at a price of $ 250 . Due to competition

HTC reduces the price to $ 225 and subsequently sells 8640 units in the following week

b. Explain whether it was a good decision for HTC to reduce its price.

If a lower price of crude oil leads to lower oil revenue for oil-producing countries, this suggests that the world demand for oil is

• South African Airways (SAA) states that the peak holiday-travel season for the airline is between April and October. If the demand for air travel is inelastic during the peak period and it is elastic from November to March, then which of the following is true? A. A rise in price will decrease SAA’s total revenue in the off-peak months, but will increase total revenue in the peak travel months.
• B. A rise or drop in price will have no discernible impact on SAA’s total revenue.
• C. A rise in price will increase SAA’s total revenue in the off-peak months, but will decrease total revenue in the peak travel months.
• D. A drop in price will decrease total revenue in the off-peak months and increase total revenue in the peak travel months.

The sales tax you pay while purchasing a toothpaste is a __:

[A]Tax imposed by the Central Government

[B]Tax imposed by the Central Government but collected by the State Government

[C]Tax imposed by the State Government but collected by the Central Government

[D]Tax imposed and collected by the central Government.

[Answer if you 100% sure with explanation]

If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity

a)         What is the level of elasticity?

b)         What is the interpretation the result

If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity

  What is the percentage change in quantity?